I think MUFG is a trader run by a trading house Mitsubishi metals. My view is that their positions are ultimately driven by outlook for the commodity in this case U. They then enhance or leverage it by picking a mining stock which as a producer with fixed costs has leverage to the underlying commodity price.
Thus I see them in the true role of a commodities speculator, speculating on the outlook for the commodity price which when up provides the signal for mining companies to invest and move to production chasing profitability. In copper, I've often seen them and their ilk (e.g. Blackrock) leading the pack. That could be readily viewed/confused with a leader of shorts.
As we are heading to production I am not concerned to see them here. (If the outlook for U changes then they may well lead shorters).
All IMVHO
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Open | High | Low | Value | Volume |
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---|---|---|
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3 | 6577 | 2.440 |
2 | 4105 | 2.430 |
4 | 5531 | 2.420 |
3 | 5202 | 2.410 |
Price($) | Vol. | No. |
---|---|---|
2.460 | 8548 | 2 |
2.470 | 11266 | 2 |
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